Putin’s grip on power remains firm following the September 2026 State Duma elections, in which United Russia secured a record supermajority of roughly 355 seats on a platform explicitly tied to the Ukraine conflict. His current six-year term, secured in the 2024 presidential vote, runs through 2030, with constitutional amendments permitting two additional terms until 2036. No designated successor has been named, though Prime Minister Mikhail Mishustin would serve as interim under the constitution and figures such as Alexei Dyumin continue to appear in succession speculation. Persistent but unverified reports about the president’s health have circulated around his October 74th birthday, yet he remains publicly active in diplomacy, including recent calls with U.S. President Trump, and no procedural steps toward early departure have emerged. These factors anchor trader assessments of near-term removal probabilities.